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| 10-building Greenway Plaza, Houston, TX |
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| 777 Main Street, Fort Worth, TX |
ATLANTA, GA--Cousins Properties Incorporated (NYSE: CUZ) has
completed its previously announced acquisition of Greenway Plaza, a
10-building, 4.4 million-square-foot office portfolio in Houston, and 777
Main, a 980,000-square-foot Class-A office tower in Fort Worth, Texas, for
a total gross purchase price of approximately $1.1 billion in cash from
Crescent Real Estate Holdings LLC.
Cousins Properties Closes Two Mortgages Totaling $303
Million
ATLANTA, GA--Cousins Properties Incorporated (NYSE: CUZ)
announced today that it has closed two mortgages, at Post Oak Central
and Promenade, generating approximately $303 million in proceeds.
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| Post Oak Central, Houston, TX |
The Post Oak Central non-recourse mortgage, totaling
approximately $189 million, has a 7 year term and a fixed rate of 4.26%.
Cousins purchased Post Oak Central, a Class-A office complex
comprising 1.3 million square feet in the Galleria submarket of Houston, in
February 2013 for approximately $233 million. The building is currently 94%
leased, up from 92% leased at the time of purchase.
The $114 million Promenade non-recourse mortgage has a 9
year term and a fixed rate of 4.27%.
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| Promenade office tower, Atlanta, GA |
Cousins purchased this Class-A office
tower, located in the Midtown submarket of Atlanta, in November 2011 for
approximately $135 million. The 774,000-square-foot building is 87% leased, up
from 58% at the time of purchase.
The funds generated by these mortgages will be used to
partially fund Cousins’ previously announced $1.1 billion Texas office
portfolio acquisition, which closed today.
. For a complete
copy of the company’s news releases, please contact:
Cousins Properties Incorporated
Cameron Golden, 404-407-1984
Vice President of Investor Relations and Corporate
Communications
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